Convicted tax evader from Holden could get 5 years in prison

Saturday

Feb 2, 2013 at 6:00 AMFeb 2, 2013 at 10:33 AM

A Holden man faces up to five years in prison after being was convicted Friday of tax evasion in U.S. District Court.

According to the office of U.S. Attorney Carmen M. Ortiz, David L. Toppin, 47, who owned and operated the Pelletizer Group Inc., did not file his 1997 to 1999 tax returns until 2006. In the returns, Mr. Toppin reported earning a total adjusted gross income of $727,701 and owing $227,199 in federal income taxes from 1997 to 1999.

The evidence at trial showed that Mr. Toppin evaded paying taxes and tried to prevent the Internal Revenue Service from collecting his income tax by, among other things, placing real estate and checking accounts in his wife’s name and by misleading the IRS about the extent of his assets and income, the U.S. attorney’s office said.

Sentencing is scheduled for May 2. Mr. Toppin faces a maximum of five years in prison followed by three years of supervised release and a $250,000 fine.